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Gold

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Super Contributor
Hey,what's happening to the gold price?
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6 REPLIES 6
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Regular Contributor
Goin down to $1550 per ounce, I suspect. It broke out of a multi month falling wedge, perhaps it will re-test the resistance line (now hopefully, support line) of that falling wedge at approx. $1550. Interestingly, GLD has the same formation, it could go down to test the same @ R227 or so. If it does, that is where I will be buying big time.
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Super Contributor
Federal Reserve minutes showed policy makers debated ending their bond- purchase program.
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Super Contributor
I will be surprised if gld drops below 13500.
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Super Contributor
Time to short DRD with that double top brewing?
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Regular Contributor
I hope you are right, Russ, I own a S - load of GLD.
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Super Contributor
I say that because there is both lateral support there as well as a rising trend line (previously resistance,now support)that goes back to about July 2010 which meets at about the same point.
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